Ron Paul Warns of Dollar Collapse 100% In 28 May 2016 – China And Russia Are Preparing For A Bankrupt US Financial System
U.S. National Debt
When the government spends more than it collects, the result is additional debt. From the signing of the Declaration of Independence in 1776 until 2008, the U.S. accumulated slightly over $10 trillion in federal debt. In the past seven years, the debt has nearly doubled to more than $18 trillion. By the year 2019, it is projected to exceed $20.3 trillion. When interest rates rise, the impact will be felt by the federal government as well as everyday Americans. First, it will increase the government’s cost of borrowing, which will cause the debt to rise even faster. It’s entirely possible that even a modest rise in interest rates could cause the debt to spiral out of control.
This is because Washington is heavily dependent on borrowing to operate. Next, it will be much more difficult to expand or even maintain the welfare state. This fact alone will lead to mass riots as individuals who are dependent on a government check will take to the streets in protest. Also, the U.S. would have a more difficult time funding its presence (i.e. military bases) around the world. This would lead to a less stable socio-political environment and an uptick in radical behavior. Plus, a shortage in government revenue could result in a rather large tax increase and the eventual demise of the middle class. Finally, and as we’ve already seen, the federal government may decide to target 401ks and IRAs as a source of additional revenue. This could take the form of a tax or fee of some sort. Mr. Paul also mentioned the possibility of a tax on regular savings and other assets. If the government finds itself in a tight situation, as we’ve witnessed in the recent past, the potential intrusion could be severe.
Is the U.S. Losing its Stature?
In the post WWII era, the U.S. dollar has been the global reserve currency. Prior to that, the British Pound filled this role. Recently, China has increased its trading with Germany, India, and others, excluding the dollar as the reserve currency. It seems the world is slowly transitioning away from the dollar. If this continues, the U.S. could lose its position as the world’s reserve currency. This would have numerous ramifications. A discussion on that is beyond the scope of this article. Mr. Paul also stated that 10 countries have already signed a document to begin phasing out the dollar as the basis of trade. Even the IMF has proposed a new world reserve currency system. The days of the U.S. dollar as the world’s reserve currency may well be numbered.
Some argue that the U.S. economy is on the mends and the stock market is near record highs. Therefore, things can’t be all that bad. While there is truth in this, according to Paul, stocks have risen due to Fed policy and political leaders. He also stated that printing money has never solved this type of problem….ever! He cited Germany, Russia, Argentina, Brazil, Chile, Japan, China, Ukraine, Italy, Ireland, Portugal, and Spain as examples of countries that had similar problems to the U.S. and yet none of them was able to use the printing press to escape their problem.(source)
Will the U.S. follow the path suggested by former Congressman, Ron Paul?
Word of the day: Prepare! And do it the old fashion way, like our fore-fathers did it and succeed long before us, because what lies ahead of us will require all the help we can get. Watch this video and learn the 3 skills that ensured our ancestors survival in hard times of famine and war.
Video : Economy News TV
The tech sectors is now getting hit with layoffs. The Dallas Fed survey is at a 6 year low and crashing. Manufacturing in a decline which is signalling a major depression coming soon. The East know the West is now bankrupt and they are preparing and waiting patiently for it to be complete. Norway’s biggest bank is now pushing a cashless society. The house of Saud will most likely contribute to the collapse of the global economy.
Video : X22Report
Economic Collapse Warning USA Crisis 2016 Financial Dollar Crash Coming!
Video : DAYLY NEWS
The Lost Ways (Learn the long forgotten secrets that helped our forefathers survive famines,wars,economic crisis and anything else life threw at them)
Survival MD (Best Post Collapse First Aid Survival Guide Ever)
Backyard Innovator (A Self Sustaining Source Of Fresh Meat,Vegetables And Clean Drinking Water)
Blackout USA (EMP survival and preparedness)
Conquering the coming collapse (Financial advice and preparedness )
Liberty Generator (Build and make your own energy source)
Backyard Liberty (Easy and cheap DIY Aquaponic system to grow your organic and living food bank)
Bullet Proof Home (A Prepper’s Guide in Safeguarding a Home )
Family Self Defense (Best Self Defense Strategies For You And Your Family)
Survive Any Crisis (Best Items To Hoard For A Long Term Crisis)
Survive The End Days (Biggest Cover Up Of Our President)
Drought USA (Discover The Amazing Device That Turns Air Into Water)